Summary of Bill S 3818
Bill 118 s 3818, also known as the Renewable Fuel for Ocean-Going Vessels Act, is a piece of legislation introduced in the US Congress. The main goal of this bill is to promote the use of renewable fuels in ocean-going vessels in order to reduce greenhouse gas emissions and combat climate change.
The bill proposes several key measures to achieve this goal. Firstly, it calls for the establishment of a Renewable Fuel Standard for ocean-going vessels, similar to the existing standards for cars and trucks. This standard would require a certain percentage of renewable fuels, such as biofuels or hydrogen, to be used in these vessels.
Additionally, the bill includes provisions for research and development of new renewable fuel technologies specifically tailored for use in maritime transportation. This would help to expand the availability and affordability of renewable fuels for ocean-going vessels.
Furthermore, the bill aims to incentivize the use of renewable fuels by offering tax credits or other financial incentives to companies that comply with the Renewable Fuel Standard. This would help to offset the potentially higher costs of using renewable fuels compared to traditional fossil fuels.
Overall, the Renewable Fuel for Ocean-Going Vessels Act is a comprehensive piece of legislation that seeks to promote the use of renewable fuels in maritime transportation in order to reduce emissions and combat climate change.